India's Most Influential Business and Economy Magazine - A Planman Media Initiative 
 Search  
  Other Sections
  
  • Home
  
  •  Cover Story
  •  B&E This Fortnight
  •  B&E Indicators
  • B School
  • International Column
  • Project Syndicate
  • Scrutiny
  • Sector
  • Snapshot
  • Special Story
  • Stratagem
  • Testimonial
 


Share |
Cover Story
 

Rethinking liberalisation
Social Activist K. N. Govindacharya shares his views on liberalisation and globalisation at the dawn of 30 years of liberalisation in India
Issue Date - 16/02/2012
 
The era of liberaliSation in India is binding it to the shackles of financial dependency. The poverty of villages stays put while migration is constantly on a rise. Though poverty has decreased to some extent in urban areas but the change has led to the creation of a rich-poor gap, unemployment, filth, pollution and deculturalisation. Zealous following of capitalist values is increasing profit-making tendency and lust in the society. The everyday life of a common man is getting tougher with each passing day. Sections of the society that are dependent on natural resources find themselves the most affected. In a country where 77% of the population lives on an income of less than Rs.20 per day and 6 million people don’t have a house to take refuge in, there a rich man constructs his house at a cost of Rs.7500 crore.

After the perils of power arising out of position, now the power of money has started influencing our democracy, examples of which can be seen in the large number of billionaires occupying seats in the Parliament. Democracy is getting deformed to a corporation. Seeing the condition of the nation, a profane nexus of the seignior and businessmen is apparent. Both, the people in power and the opposition, are hell bent to promote pro-rich and pro-foreign policies under the name of liberalisation.

Agriculture, which forms the base of our economy, is constantly being ignored in the country. Although the agricultural sector has immense employment opportunities, public investment in this sector has not seen a rise in the last 10 years. The industrial and investment policies are promoting migration instead of production. Industries are going bankrupt while the GDP keeps rising. Growth of a country is not judged by its GDP, but rather by the balance of prosperity and culture. In order to achieve this, agricultural, labour and industrial policies need to be combined and sources of earning need to be cultivated.

Indian society is governed by the combined efforts of religious, societal, political and economic power. Liberalisation and globalisation are gradually overpowering the economy. The link between political power and society is weakening. It is for this reason that on the topics of Khap and Gotra, the government and society have a different take. The balance of political power has been limited to balancing legislature, judiciary and bureaucracy. In such a situation, power alone cannot control the influence of politics and financial might. This requires the democratic setup of India. People are waking up to this fact and are working towards the concept of “think global - act local”. The result is that now the demands for fundamental rights can be heard more on streets than in the parliament. The voice of social activists like Anna Hazare, Baba Ramdev and Dr. Swami will rise in the coming times. Gandhi, Lohia, Jayaprakash will be remembered once again. The coming era belongs to will-power and workforce.

Liberalisation and globalisation directly mean getting financially dependent on other countries. The concept of liberalisation is also against humanity and nature just like socialism and communism and therefore it will not last long. After 2006, America said that the countdown of capitalism had started. The coming time is of cultural capital and not of economic capital. Cultural heritage is made up of societal assets like family system and being friendly with the neighbours and cultural traditions such as saving and living with controlled expenditure. The financial setup that is made of native thought, decentralisation, family, saving and sacrifice will rise and India, being lush with cultural heritage, will guide the world towards it.

 

Sadashiv Tripathi           

Share |
 
 


      
Comments   
   
      
Leave your first comment

   


     Leave Comments to this story    
     
Name:  
Comments:  
Email id:  
City:  
 
 
Busines & Economy is also associated with :
©Copyright 2008, Planman Media Pvt. Ltd. An Arindam Chaudhuri Initiative. With Intellectual Support from IIPM & Malay Chaudhuri.